The Financial Stability Authority (FFSA) has published the sustainability report for its activity in 2024. The report is based on instructions from the State Treasury to the central government organisations.
The FFSA’s task is to maintain financial stability and protect taxpayers from the effects of possible banking crises. By performing its tasks, the FFSA is also supporting progress towards achieving the UN Sustainable Development Goals.
The sustainability report reviews the steps forward taken by the FFSA in 2024 in achieving the goals listed below:
- End poverty in all its forms everywhere
– FFSA conducted simulation exercises related to the payment of deposit guarantee claims. The first simulation, carried out in cooperation with the Swedish and Norwegian deposit guarantee authorities, focused on the payment of deposit guarantee compensations to depositors in branch countries in the event of a bank going bankrupt. The aim of the second simulation was to test the payment of deposit guarantee compensations in Finland. Alongside the FFSA, a wide variety of experts from other authorities participated in the exercise. These simulations proved that the FFSA is able to handle the payment of deposit guarantee compensation within the statutory period of seven working days.
- Decent work and economic growth
– FFSA participated to a simulation exercise together with supervisory and resolution authorities, central banks and ministries of finance of the Nordic and Baltic countries. The exercise showed that cooperation between authorities has developed significantly over the years. At the same time, the exercise improved the authorities’ understanding of how the existing operational playbooks, process descriptions and roles and responsibilities should be further specified in order to develop resolution capabilities.
- Reduced inequalities
– The FFSA participated actively in national legislative work and in forming of national positions on EU-matters.
From the sustainable development perspective, the most significant negative impacts of the FFSA’s operations are caused by official travel, premises and IT equipment and services.
FFSA's entire sustainability report can be found on our website.
Explore the UN Sustainable Development Goals (Agenda 2030).
More information: Chief Economist Hanna Westman (firstname.lastname(at)rvv.fi).
Read more about the FFSA's current topics on the Authority's website.
